Tax-Accountants for Touring and In-residence Artists and DJs.

We are Entertainment Tax-Accountants. We work/operate from the Business-Side of this Industry. We COMBINE our Expertise in Business, Taxation, and Accounting with our Training/Education, Industry-Specific Knowledge, and Experiences in this industry. We answer tough questions, share our co-competencies with our clients, get things done quickly, deliver exceptional results everytime, and keep our clients smiling. Time Management is VERY important to us. Call us when you are READY to do business with us.

 

Congratulations

Congratulations to Carrie Underwood on her new "Denim & Rhinestone" Tour, during the period October 15, 2022 to March 17, 2023, (43 performance dates) in honor of her 9th studio album of the same name. She is donating $1 for every ticket sold. Donations will go to "The Tunnels to Towers Foundation", a non-profit foundation that supports U.S. Veterans and their families.

***NOTE:-Bergdorf Goodman, N.Y. Store got the BAG, Jewelry & Accessories at discount price. Ask for Ms. Pierre(Saint Laurent, Loewe, Prada, Tom Ford, Valentino, Balenciaga, Givenchy, Dolce & Gabbana, Bottega Veneta, etc.).

Hallmarks For Our Longivity In Business

Our Contractual Obligations(Transparency/Clarity of agenda):- "We dont monkey around!" Most importantly, is our Fiduciary duty / "Duty-of-Care" (Accountability/Due Diligence) to spot appearance of impropriety/Red-Flags (Anomalies/ Irregularities), and QUICKLY intervene (Checks & Balances) and deter Transactions that are set-up/designed to extort/swindle money from you(Financial Oversight/Forensic Audit).

Our network is vast and varied; and the synergies we bring to every client are limitless. We will help you make your Concert Tours and Long-term plans Financially Successful; and we will keep EVERYTHING Discreet for your personal safety, as we have done for others in the entertainment Industry. Testimonials that we have received during our annual clients/artists survey are overwhelmingly impressive. They thank God we have their backs(Excellence of execution and clients/artists satisfaction).

We understand the Economics of the Industry and the Financial Reporting Complexities that are associated with Tour Expenses; Promotion Costs; Royalty Tracking; Accounts Receivable Collections; Overseas Earnings; On-shore Transactions; Off-shore Transactions; VAT; GCT; Transfer Tax Credit; Activity-based Costing; Interstate Tax Credit; Foreign Tax Credit; Foreign Income Exclusion; International Tax Treaties, etc. 

 

Services We Provide for Touring 

and In-Residence Artists and DJs.

 

Artists and DJs we want as clients.

#1)	Artists and DJs who are planning Concert Tours in cities in the USA, Europe, Asia, etc. (a) AND they are signed to a Major or Independent record company/label (Universal, Warner, Sony, Columbia, Atlantic, Capitol, etc). (b) OR they are signed to Main-Stage Music Festivals:-Ultra Miami(UMF); Tomorrowland; Mysteryland; Brazil for Cercle; France for Cercle; Bannaroo;  Lollapalooza; Coachella; iHeartRadio; EDC; Seminole Hard Rock Arena; Amsterdam; Ultra Europe(UEF); IBIZA; Electro-beach; MadCool; Airbeat One; Nature One; Munich Olympic Stadium; Bucharest Romania; Lanxess Arena Koln; Festival Les Vieilles Charrues; Chateau de Chambord; The 02 Arena; Leeds; Parklife; Wembley; Creamfields; Glastonbury; Super Sonic; Yokohama Arena, etc). (c) OR they are signed to their own Independent Label (INDIES); and they are planning Concert Tours in cities in the USA, Europe, Asia, etc:- We will put together a Realistic and Effective Budget, Forecast, Taxation plan, and a strategic and execution plan that will always let you know where you stand with Cash-Flow, Working Capital, and Profitability. We will ensure your tour is FINANCIALLY successful. We will save you Millions of dollars in non-essential/unnecessary expenses and taxes and make the net-worth of those on the Fortune-100 list look like Pocket Change/Tips Money (Financial Leverage) while you keep a Busy and Lucrative performance itinerary of 50 performance dates in 90-days. You are On-A-Roll; and you are entertaining your super-fans with a medley of sing-along hit-songs from your multi-platinum catalogue; and bedazzling the media, cross-over fans, advertisers, and sponsors with Back-2-Back monster hits from your grammy winning albums and your legendary on-stage theatrical performances; making each show/event an extravaganza, a masterpiece, and a commercial sensation, with stratospheric success accross the world-Straight-up, Legendary!!! ***NOTE:-DONT pay us. Give us CREDIT on your new album that is ready to be released. We are taking the risk with you. We know this industry and we are "WICKED" with numbers. The more complex, the better. Our clients have all kinds of money; and they have thank God we had their backs. Time Management is VERY important to us. You have a lot of work to get done. Lets start today!!
#2)	In-residence Artists and DJs who have a Contract with/from a Casino or Hotel/Resort:- If you received income and you didnt file your tax returns(IRC Sections 111, 701, 6601 and 6651), the IRS and States can come after you FOREVER because you dont have a Statute-of-Limitation. You are responsible for filing your tax returns and paying your taxes on time even if your management company or booking agency had promissed to do it for you. You can ask those Artists, Actors, Actresses, Baseball players, and DJs who have had tax problems with the IRS and States.Lets start working on that today!!
#3)	Artists and  DJs who want to resolve U.S. or Foreign Tax problems:- Interests and Penalties (Sections 6601 & 6651) for taxes owed are HOT. They can burn a BIG hole in your bank account(as high as 50% of the tax you owe). However, some of those interest and penalties can be completely forgiven. Filing for bankruptcy will damage your credit rating and wouldnt erase/wipe-out your tax debts; and the IRS and State will move quickly and put a LEVY against your bank accounts and a LIEN against your property and sell it at auction. If you have a mortgage on your property, the bank will come after you and your co-signers for full payment of the balance of the mortgage. That includes seizing the collateral that you pledged on your mortgage application form. You can ask those Artists, DJs, Actors, Actresses, and Baseball players who have had tax problems with the IRS and States. If you are DELINQUENT on Tax and/or Child Support payments in a Foreign Country, that debt should be settled before your plane lands in that countrys airport. Most importantly, respect the laws in those countries that host your shows/events. I can introduce you to people who have faced embarassing consequences for non-compliance. Your Entertainment Attorney will advise you accordingly. Lets keep it real!! Lets start working on that today!!

What we want UP-FRONT from Artists & DJs.

#1)If you are an Artist or DJ and you are planning a concert tour (for Verification and for Tax Planning purposes; and to save you millions of dollars in expenses and taxes) we want a copy of the contract that you signed with the Record Company/Label and with each Event Promoter or Booking Agent that book your tour/shows, including a copy of your Tour Schedule/Itinerary.

#2) If you are resolving a tax problem/dispute, in the USA or Overseas, we need a copy of the letter that you received from the IRS in the USA or the IRD in the Foreign Country.

 

What  More Do We Bring To The Table

Clients are Eager and Happy to do business with us because they know they are in Capable Hands. "We dont monkey around!". We get things done quickly, we deliver exceptional results everytime; and we are not a "One-trick Pony". Hence, in ADDITION to those Benefits that we have discusses above:-

a) Are you planning to sign a new contract/record deal? How about a deal like this:-80% Royalty and 50% Publishing rights, in addition to keeping ownership of your masters? Thats Leverage!! That is where your Money, Wealth, and Negotiating Power are. We work with clients who have those deals.

b)If you are a singer-songwriter and you perform your own original songs, how about an exclusive worldwide publishing deal that covers your full catalog/catalogue and future works? We work with clients who have those deals.

c)How about Royalty Auditing to ensure you have received every contractual distribution from record labels, merchandizing, publishing companies, etc? How about valuation of your recording/publishing catalog and catalog acquisition?

d)How about the Tax Aspects of Marriage, Separation, and Divorce? Time for  Reflection/Reality Check. We have been following activities in Divorce Courts in the USA and the UK; so we know whats "COOKING". Men and Women who have received Big Divorce Settlements are Smiling because they hit the Jockpot, while those who have ignored the importance of legally protecting their assets, because they fell too deeply in love, have become Sitting Ducks and ended up paying a Fortune in Assets distribution, Attorneys fees, etc., in addition to having severe Traumatic Experiences (sleepless nights, regrets, frustration, depression, addiction, therapy, and rehabilitation). That frequently happens to high profile and high net worth people. Especially, those people in Sports and Entertainment. You can check out those dockets in Divorce Courts. Thats public information!!

e)We bring decades of Practical Insights, Strong work ethics, Integrity, and Quick, Effective, and Efficient business execution strategies to EVERY area/niche in the entertainment industry (Music, Films, Fashion, Sports, and Culinary). We also have in-depth knowlwdge and practical experiences in Real-Estate, Transportation, Hospitality, and Insurance; and We are current on issues that pertain to the U.S.A and European Employment & Tax Compliance rules in those industries. Our clients have received Exceptional Results and Peace-of-Mind.  

 

Events Execution Plan

Here is an E-mail we received: - "I have just signed with Columbia Records and I received an advance against my recording contract. Would you like to be my business manager?"

Reply to the E-mail: - Thanks for your Inquiry. We have received many similar offers. We are Entertainment Tax-Accountants. I would suggest that you signed to a Business Manager(Management Firm), and a Booking Agent/Agency. They have a Roster/list of Talent Buyers and Concert Promoters who will book your concert tours/shows at venues in the USA and Overseas. If you need me to get involve/participate, I can work independently and in tandem with your team. You will benefit tremendously from TWO of my specialties:-

1)

Public Relations & Crisis Management:-The value of mainstream media exposure is priceless. While you are pumping-up the crowd your tour schedule will spread across the world like wildfire. We will ensure that All marketing and press releases are effective and released ahead of time to adequately publicized each venue, keep fans camping outside the venue; and fill each venue up to the Citys Sight-specific, or Special Event Permit limit, NOT up to the venue capacity. (Using tight Security and Crowd Control Techniques in addition to having adequate Liability Insurance Coverage to protect you and your assets in case you are held liable for unforeseen contingencies such as "Inciting the Crowd" before and during the concert. We have seen the dangers that Frenetic Crowd have caused in Mosh Pits (Moshing) as fans rushed towards the stage and became disorderly. The melee is horrifying and heartbreaking. We are talking about  Stampedes, Mass Casualties, Mayhem, Permanent Injuries, and Lawsuits, as Attroneys look for every loophole to hold Artists, Venue, Organizer, Promoter, Ticket Agent, and Security Company accountable and liable for putting profit ahead of the life of attendees. That could damage your brand. Iconic Sponsors and Product Manufacturers will DROP you QUICKLY/FAST because they dont want to be associated with anything that will DEVALUE their BRAND; and they no longer see VALUE in you).

2)

Tax Accounting:- We will ensure strict budgetary controls and rigorous financial oversights during each event on the tour calendar, because we have heard Artists Complained that Venues/Shows were SOLD-OUT; but they ended up almost BROKE. (A female Artist/Superstar sued her Management Firm for Financial Mis-management and received a court settlement of $10 million. That is public information. It is in court dockets in Manhattan, New York). Your income stream is a complexity of Royalties, Licensing, Intellectual Property and International earnings. We will ensure that your earnings from multiple income source/streams:- (music sales, concerts, merchandise, commercials, endorsements,  spokesperson, sponsorships, music publishing, Logo lease, book publishing & sales, speaking engagements, guest appearances, sound tracks, ringtones, voice-overs, jingles, modelling, acting, etc.) from the USA and Overseas are received and are properly accounted for; and are in the appropriate bank accounts (local bank, overseas/offshore bank). We will monitor your investments performances because many Artists and Band Members have lost almost all their investments to Business Partners and stock-market scammers/brokers. We will prepare a personal and business tax plan that will save you millions of dollars. Tax returns will be filed in a timely manner and in accordance with U.S. and International tax rules/treaties (International Taxation).

Our Business Operations Policy (Transparency / Clarity of agenda):-We care about your well-being and your present and long-term financial successes. You will NEVER get stuck in a contract with us. You can terminate your agreement with us ANYTIME. We have seen how PEER PRESSURE has affected Artists who have refused to be String Along and get Strung Out. We care about your well-being in the industry and you can count on us for strightforward advice that will help you side-step Controversies, Mischief, Malevolence, and other "Halla-baloos"; and stay FOCUS, and maintain your SANITY/ PRUDENCE /SELF-ESTEEME in a SOMETIMES weird / creepy / toxic / demonic / predatory environment. We do not disclose non-public personal information about our clients to anybody (IRC section 6713), except as permitted by law, through a power of attorney signed by our clients; or a court order directing us to make disclosure. We operate on the Business Side of this industry and we are focus on ACCOUNTABILITY. We are Mission-Driven and Results Oriented. We DONT need CHEAP Publicity; and we DONT get involved in Street Drama, Hatred, Malicious Mischief, and Conflict of Interest. Those things CANT bring us MONEY. Hence, every new Artist/client will go through a verification / suitability check even when our trusted advisors recommend them to us. Similarly, EVERYBODY is free to check us out before they do business with us (Pro-active Risk Management). We are Transparent (above-board), Factually-deep, and Very Specific; and we Honor Our Obligations. Everything that we have done for our clients was discussed with them, and approved by them(written consent). They have taken our advice; and NONE of them have had to endure Financial hardship or Tax nightmares, or file for Bankruptcy(Financial / Fiscal Prudence).

Fee:- Barrys Accounting Services, Corp. delivers superb service at an unbeatable price. We have THREE pricing/fee structures. Pick ONE:-

#1) GIVE US CREDIT:- Dont pay us. Keep the money and give us credit on your new album that is ready to be released.

#2) FULL  PACKAGE:- The fee is 3% to 5%. This is a Flat Fee for each service that we provide. This is different and better than a 360 deal/agreement.

#3)TAXATION only:- The fee starts at US $1,275.00

We are very efficient and business savvy. NOBODY works harder than us to bring clients EXCEPTIONAL results/benefits, and Peace-of-Mind. You have a lot of work to get done. Time Management is important to us. Call us and lets start today!!!

 

Overview

How I learn the Ins and Outs of the industry

#1)I have Studied Accounting & Taxation at NYU and the University of London.

#2)I have taken selective entertainment classes at Manhattan School of Music, and the University of Southern California to strengthen my business acumen in that industry and speak the language. I am not a musician. However, I have an ear for GREAT music, a comprehensive understanding of the industry operation, and I can speak the language. I have a collection of "Hits" from almost every genre of music. Some of the songs/music in my collection are "Vintage". Upon release, I can tell almost instantly that a song/album will become a hit/monster. I am correct 99.5% of the time. This is how I SCORE every song:- (Concept; great intro., clarity; pace; structure/form; lyrical content; selection & flow; performance style; voice/vocals; combination of notes and chords; chords progressions; modes; instrumentals; bars; chorus; punch lines; melody; rhythm; hooks; timing; bridges; perfect drops; beats; volume; mix/remixes; arrangement; perfect sound; vibrancy/energy; etc...).

#3)I have taken California Baby Bar Exam (Contracts, Tort, and Criminal Law).

#4)I have Worked temporarily for A&M Records and Arista Records in the 1980s.

#5)IRS Enrolled Agent-1989 to present (Music and Film Tax Audits).

#6)Exceptional Results and Happy Clients are everything(Quick and Effective Execution). I have solved most issues in ONE day that have kept others frustrated for ONE month. I am "WICKED" with numbers. The more complex, the bigger the loopholes. I am a Taxation, Financial Strategist, and a Business Consultant for entertainment giant - Name with-held, (USA and Europe Divisions, Non Disclosure Agreements or NDAs) with Direct Access to Tax Strategists/Consultants around the world. 

How we know about Artists & DJs:- Rolling Stone and Billboard Magazines subscriptions; YouTube; and promotional campaigns on Radio and TV in the USA and Overseas to publicized the release of their albums/singles and tour dates/bookings. We watch fans attendance, participation, and the energy in the venue/arena (stage presence, performances, and fans reactions).

How we obtain Artists & DJ clients:-Direct Mailing from our exclusive database; Family-Law Attorneys preparing Pre-nuptial and Divorce Agreements;  A&R; Artists Business Managers; AND Entertainment Attorneys. Every New client goes through a Verification/Suitability check, even when our trusted contacts make recommendations to us. Thats the key to identifying when we must refuse an opportunity(Proactive Risk Management).

We help each client Pick/Choose/Select specific services that they need; and those services are included in a written contract that is signed by the client and us. Barrys Accounting Services, Corp. will honor its agreement as stipulated in the written contract with the artist/artist manager. Services we can provide the Artist or DJ are as follows:-  Design business strategies and articulate strategic plans that fit into aggressive marketing and public relations campaigns; ensure tours and release of your album is treated as priority; establish a corporation to manage business-related income, expenses, and investments in accordance with current bookkeeping/ accounting and tax rules; provide the artist/manager with clear weekly/monthly financial reports; review promoters general/spectator liability insurance policy, event cancellation policy, artist non-appearance option; review contracts and modify exclusions, power of attorney, key man clause, sunset clause, back-end/front-end deals, guarantees (multiple shows, favorable routing, booking in other regions, etc.) and ensure that the artist receives adequate and timely payment from the record label, publishers, promoters, sponsors, and merchandisers, etc.; help the artist renegotiate/buyout of existing contract(s) ONLY if the artist request our involvement; budget and coordinate concert tours; communicate with booking agents, label A&R department, and sponsors liaisons; review prenuptial agreements and divorce decrees for tax consequences before the artist signs them; prepare a personal financial/retirement plan for the artist; plan, purchase, manage, and sell business entities approved by the artist; connect artist to overseas promoters and foreign entertainment accounting firms if this service becomes necessary; audit (tour accounting, royalty, publishing and merchandising companies) and hold everybody accountable for the artists money; prepare personal and corporation tax returns; assist artist with purchasing, renovating, insuring, leasing, and selling real estate, boats and planes; screen key employees and business associates, and coordinate special events on your behalf.

 

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Income
1)	Appearances (promotional, opening act, headliner, movies, and fashion.)
2)	Tickets & VIP Packages (private parties, concerts, tours).
3)	Ancillary/Residuals (studio rents, merchandise sales, endorsements/sponsorships, and advertisers.)
4)	Royalties (record/publishing company, copyright infringement, music library and book publishers, radio playlist, songwriting, film and movie soundtracks, etc.).

Non-Income
Charitable, goodwill, and public relations appearances.

General Expenses/Overhead
Support staff/entourage: Agent, managers, producers, coach, choreographers, security, secretary, chaperon, beautician, publicists, attorney, bookkeeper, accountant, master of ceremony/announcer, casting directors, photographers, technicians, musicians, and foreign and local promoters and distributors, etc.

Related expenses: Baby-sitter, maids, chef, butler, and gardener/caretaker (Forms W2, household employees vs. independent contractors), advertising and promotion, printing, postage, stationery, charitable contributions, insurance (property, health, disability, medical, and long term care), medical expenses, bank charges, pension contributions, transportation (air, limousine, tour buses, trucks), taxes and permits (local and foreign), meals, lodging, costumes, studio fees, rehearsal space, hall/stadium rent, lodging while on tour, leases, depreciation deduction, organizational expenditures/deferred expenses, musical instruments and related accessories, equipment repairs, opening acts/artist, stage lighting and decorations, audition fees, portfolio and resume, professional/membership dues, telephone and answering service, electricity, health club, physical training/education, script preparation, dance lessons, voice training, casual labor/stage hands, co-writers, record producers, mixers, taste makers, remixers, hit makers, engineers, co-publishers, costumes, rehearsal clothing/props, tips backstage (dressers, doormen, porters, bell hops, etc.), theatre books, sheet music, scripts, score cards, the cost of attending plays, movies, and concerts to observe trends in your industry and to maintain and improve skills in your profession, celebration, and special events in accordance with industry norm.

 

The Scorpions		Def Leppard
Judas Priest		Bonfire

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